Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)
26 Décembre 2024 - 4:42PM
Edgar (US Regulatory)
Portfolio
of
Investments
October
31,
2024
JPC
(Unaudited)
PRINCIPAL
/
SHARES
DESCRIPTION
RATE
MATURITY
VALUE
LONG-TERM
INVESTMENTS
-
158.9%
(99.5%
of
Total
Investments)
2222448164
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
-
85.8%
(53.8%
of
Total
Investments)
2222448164
AUTOMOBILES
&
COMPONENTS
-
0.9%
(0.5%
of
Total
Investments)
$
14,869,000
(a)
General
Motors
Financial
Co
Inc
5.750
%
N/A
$
14,407,563
8,014,000
(a)
General
Motors
Financial
Co
Inc
5.700
N/A
7,734,297
TOTAL
AUTOMOBILES
&
COMPONENTS
22,141,860
BANKS
-
35.1%
(22.0%
of
Total
Investments)
10,850,000
(a)
Bank
of
America
Corp
4.375
N/A
10,450,739
4,450,000
(a)
Bank
of
America
Corp
6.300
N/A
4,510,124
6,955,000
(a)
Bank
of
America
Corp
6.100
N/A
6,945,954
45,134,000
(a)
Bank
of
America
Corp
6.125
N/A
45,845,488
743,000
Bank
of
Montreal
7.300
11/26/84
773,366
8,080,000
Bank
of
Montreal
7.700
05/26/84
8,450,403
3,000,000
(a)
Bank
of
Nova
Scotia/The
4.900
N/A
2,972,225
9,650,000
(b)
Bank
of
Nova
Scotia/The
8.000
01/27/84
10,195,283
10,550,000
Bank
of
Nova
Scotia/The
8.625
10/27/82
11,301,424
27,500,000
(a),(c)
Citigroup
Inc
3.875
N/A
26,577,645
7,175,000
(a)
Citigroup
Inc
7.375
N/A
7,502,445
14,589,000
(a)
Citigroup
Inc
5.950
N/A
14,536,572
22,389,000
(a),(c)
Citigroup
Inc
6.250
N/A
22,657,467
19,799,000
(a)
Citigroup
Inc
4.000
N/A
19,266,734
32,448,000
(a)
Citigroup
Inc
7.625
N/A
34,525,209
33,702,000
(a)
Citigroup
Inc
7.125
N/A
34,625,030
16,219,000
(a)
Citigroup
Inc
7.000
N/A
17,164,876
10,740,000
(a)
Citigroup
Inc
4.150
N/A
10,272,094
7,000,000
(a),(d)
Citizens
Financial
Group
Inc
(TSFR3M
+
3.265%)
7.854
N/A
6,961,369
5,529,000
(a),(d)
Citizens
Financial
Group
Inc
(TSFR3M
+
3.419%)
8.008
N/A
5,495,157
3,976,000
(a)
Citizens
Financial
Group
Inc
5.650
N/A
3,940,270
9,515,000
(a)
Citizens
Financial
Group
Inc
4.000
N/A
9,018,824
14,700,000
(a)
CoBank
ACB
6.450
N/A
14,764,930
17,983,000
(a)
CoBank
ACB
6.250
N/A
17,912,791
5,800,000
(d),(e)
Corestates
Capital
III
(TSFR3M
+
0.832%)
5.950
02/15/27
5,713,336
6,450,000
(a),(b),(e)
Farm
Credit
Bank
of
Texas
6.200
N/A
6,353,250
3,060,000
(a),(e)
Farm
Credit
Bank
of
Texas
5.700
N/A
3,029,279
16,256,000
(a),(d)
Fifth
Third
Bancorp
(TSFR3M
+
3.295%)
7.898
N/A
16,190,233
1,225,000
(a)
Fifth
Third
Bancorp
4.500
N/A
1,206,646
18,714,000
(a),(d)
First
Citizens
BancShares
Inc
/NC
(TSFR3M
+
4.234%)
9.180
N/A
19,087,999
910,000
(a)
Goldman
Sachs
Group
Inc
/The
4.400
N/A
898,763
20,300,000
(a)
Huntington
Bancshares
Inc
/OH
5.625
N/A
20,216,902
25,000,000
(a)
Huntington
Bancshares
Inc
/OH
4.450
N/A
23,901,915
13,830,000
(a)
JPMorgan
Chase
&
Co
3.650
N/A
13,385,028
59,179,000
(a)
JPMorgan
Chase
&
Co
6.875
N/A
62,533,325
3,600,000
(b)
JPMorgan
Chase
&
Co
8.750
09/01/30
4,287,899
2,800,000
(a)
KeyCorp
5.000
N/A
2,691,448
8,000,000
KeyCorp
Capital
III
7.750
07/15/29
8,282,253
2,395,000
(a)
M&T
Bank
Corp
5.125
N/A
2,358,568
2,000,000
(b),(d)
M&T
Bank
Corp
(TSFR3M
+
1.262%)
5.918
01/15/27
1,938,720
5,960,000
(a)
M&T
Bank
Corp
3.500
N/A
5,422,461
34,335,000
(a),(c)
PNC
Financial
Services
Group
Inc
/The
6.250
N/A
34,372,631
6,605,000
(a)
PNC
Financial
Services
Group
Inc
/The
6.000
N/A
6,612,219
9,520,000
(a)
PNC
Financial
Services
Group
Inc
/The
3.400
N/A
8,775,031
18,235,000
(a)
PNC
Financial
Services
Group
Inc
/The
6.200
N/A
18,387,390
2,923,000
(a)
PNC
Financial
Services
Group
Inc
/The
5.000
N/A
2,887,089
15,580,000
(a),(c),(d)
PNC
Financial
Services
Group
Inc
/The
(TSFR3M
+
3.302%)
8.317
N/A
15,617,875
5,855,000
(a)
Regions
Financial
Corp
5.750
N/A
5,836,426
32,700,000
Toronto-Dominion
Bank/The
8.125
10/31/82
34,454,519
52,724,000
(a),(c)
Truist
Financial
Corp
6.669
N/A
52,442,475
16,800,000
(a),(c)
Truist
Financial
Corp
4.950
N/A
16,604,611
6,687,000
(a)
Truist
Financial
Corp
5.100
N/A
6,490,677
8,955,000
(a),(d)
Truist
Financial
Corp
(TSFR3M
+
3.364%)
8.310
N/A
8,959,907
Portfolio
of
Investments
October
31,
2024
(continued)
JPC
PRINCIPAL/
SHARES
DESCRIPTION
RATE
MATURITY
VALUE
BANKS
(continued)
$
4,465,000
(a)
US
Bancorp
5.300
%
N/A
$
4,408,834
7,295,000
(a)
Wells
Fargo
&
Co
7.625
N/A
7,840,622
36,460,000
(a)
Wells
Fargo
&
Co
6.850
N/A
37,590,734
20,133,000
(a),(c)
Wells
Fargo
&
Co
5.875
N/A
20,085,891
47,516,000
(a)
Wells
Fargo
&
Co
3.900
N/A
46,018,424
24,770,000
(b)
Wells
Fargo
&
Co
7.950
11/15/29
27,895,594
10,021,000
(a),(d)
Zions
Bancorp
NA
(3-Month
LIBOR
+
4.440%)
9.648
N/A
9,917,228
TOTAL
BANKS
909,362,621
CAPITAL
GOODS
-
2.1%
(1.3%
of
Total
Investments)
18,093,000
(b),(e)
AerCap
Global
Aviation
Trust
6.500
06/15/45
18,074,265
9,254,000
(a)
Air
Lease
Corp
6.000
N/A
9,114,825
13,660,000
(a)
Air
Lease
Corp
4.650
N/A
13,247,842
4,837,000
(a)
Air
Lease
Corp
4.125
N/A
4,542,404
1,960,000
(e)
ILFC
E-Capital
Trust
I
6.565
12/21/65
1,566,107
8,474,000
(e)
ILFC
E-Capital
Trust
I
6.815
12/21/65
6,809,749
TOTAL
CAPITAL
GOODS
53,355,192
ENERGY
-
5.5%
(3.5%
of
Total
Investments)
2,798,000
Enbridge
Inc
5.500
07/15/77
2,714,199
17,110,000
(b)
Enbridge
Inc
7.625
01/15/83
18,135,830
1,695,000
Enbridge
Inc
6.000
01/15/77
1,677,487
22,395,000
(b)
Enbridge
Inc
5.750
07/15/80
21,765,833
33,706,000
(b)
Enbridge
Inc
8.500
01/15/84
37,448,748
6,615,000
(a)
Energy
Transfer
LP
6.500
N/A
6,594,145
4,990,000
(b)
Energy
Transfer
LP
8.000
05/15/54
5,287,379
2,550,000
(a)
Energy
Transfer
LP
6.625
N/A
2,496,140
18,259,000
(a)
Energy
Transfer
LP
7.125
N/A
18,560,456
7,362,000
(e)
South
Bow
Canadian
Infrastructure
Holdings
Ltd
7.500
03/01/55
7,645,717
3,490,000
(b)
Transcanada
Trust
5.875
08/15/76
3,477,457
2,468,000
Transcanada
Trust
5.500
09/15/79
2,370,830
16,135,000
Transcanada
Trust
5.600
03/07/82
15,401,863
TOTAL
ENERGY
143,576,084
FINANCIAL
SERVICES
-
16.4%
(10.3%
of
Total
Investments)
22,551,000
(b)
AerCap
Ireland
Capital
DAC
/
AerCap
Global
Aviation
Trust
6.950
03/10/55
23,245,612
14,240,000
(a)
Ally
Financial
Inc
4.700
N/A
11,553,481
12,644,000
(a)
Ally
Financial
Inc
4.700
N/A
11,374,746
4,875,000
(a),(e)
American
AgCredit
Corp
5.250
N/A
4,753,125
30,903,000
(a)
American
Express
Co
3.550
N/A
29,251,142
14,778,000
(a)
Bank
of
New
York
Mellon
Corp/The
4.700
N/A
14,653,569
22,600,000
(a)
Bank
of
New
York
Mellon
Corp/The
3.750
N/A
21,322,616
3,015,000
(a),(e)
Capital
Farm
Credit
ACA
5.000
N/A
2,909,478
17,115,000
(a)
Capital
One
Financial
Corp
3.950
N/A
16,106,299
41,640,000
(a),(c)
Charles
Schwab
Corp/The
4.000
N/A
39,961,797
30,020,000
(a)
Charles
Schwab
Corp/The
5.375
N/A
29,864,869
1,350,000
(a),(e)
Compeer
Financial
ACA
4.875
N/A
1,296,000
3,989,000
Corebridge
Financial
Inc
6.875
12/15/52
4,082,992
1,610,000
(a)
Discover
Financial
Services
5.500
N/A
1,536,400
13,510,000
(a)
Discover
Financial
Services
6.125
N/A
13,472,812
8,100,000
(a),(c)
Equitable
Holdings
Inc
4.950
N/A
8,011,285
8,120,000
(a)
Goldman
Sachs
Group
Inc
/The
5.300
N/A
8,086,791
25,062,000
(a)
Goldman
Sachs
Group
Inc
/The
6.125
N/A
24,857,886
925,000
(a)
Goldman
Sachs
Group
Inc
/The
3.800
N/A
885,715
7,600,000
(a)
Goldman
Sachs
Group
Inc
/The
4.950
N/A
7,553,957
28,394,000
(a)
Goldman
Sachs
Group
Inc
/The
7.500
N/A
29,772,486
27,937,000
(a),(c)
Goldman
Sachs
Group
Inc
/The
7.379
N/A
28,048,050
1,915,000
(a)
Goldman
Sachs
Group
Inc
/The
4.125
N/A
1,833,719
32,355,000
(a)
Goldman
Sachs
Group
Inc
/The
7.500
N/A
34,591,863
11,500,000
(a)
Goldman
Sachs
Group
Inc
/The
3.650
N/A
10,945,531
16,795,000
(a)
State
Street
Corp
6.700
N/A
17,290,688
27,956,000
(a),(c)
Voya
Financial
Inc
7.758
N/A
29,497,214
TOTAL
FINANCIAL
SERVICES
426,760,123
PRINCIPAL/
SHARES
DESCRIPTION
RATE
MATURITY
VALUE
FOOD,
BEVERAGE
&
TOBACCO
-
2.3%
(1.5%
of
Total
Investments)
$
10,855,000
(a),(c),(e)
Dairy
Farmers
of
America
Inc
7.125
%
N/A
$
10,312,250
16,840,000
(a),(e)
Land
O'
Lakes
Inc
7.250
N/A
14,213,073
9,260,000
(a),(e)
Land
O'
Lakes
Inc
7.000
N/A
7,523,353
30,110,000
(a),(c),(e)
Land
O'
Lakes
Inc
8.000
N/A
27,927,025
TOTAL
FOOD,
BEVERAGE
&
TOBACCO
59,975,701
INSURANCE
-
14.0%
(8.7%
of
Total
Investments)
1,895,000
Aegon
Ltd
5.500
04/11/48
1,874,352
9,010,000
(b)
American
International
Group
Inc
5.750
04/01/48
8,988,706
17,894,000
(b)
Assurant
Inc
7.000
03/27/48
18,196,404
14,909,000
(b),(e)
Assured
Guaranty
Municipal
Holdings
Inc
6.400
12/15/66
13,626,551
3,725,000
(b)
AXIS
Specialty
Finance
LLC
4.900
01/15/40
3,540,801
19,473,000
(b)
Corebridge
Financial
Inc
6.375
09/15/54
19,388,555
5,695,000
(b)
Enstar
Finance
LLC
5.750
09/01/40
5,597,985
14,208,000
Enstar
Finance
LLC
5.500
01/15/42
13,319,956
19,860,000
(b),(e)
Liberty
Mutual
Group
Inc
7.800
03/15/37
22,045,922
23,055,000
(a)
Markel
Group
Inc
6.000
N/A
23,017,377
20,900,000
(b),(c),(e)
MetLife
Inc
7.875
12/15/37
22,960,426
15,160,000
(a)
MetLife
Inc
3.850
N/A
14,835,063
2,215,000
(a)
MetLife
Inc
5.875
N/A
2,227,889
43,519,000
(b),(e)
MetLife
Inc
9.250
04/08/38
51,581,156
3,000,000
MetLife
Inc
10.750
08/01/39
4,163,718
31,538,000
(b)
Nationwide
Financial
Services
Inc
6.750
05/15/37
32,284,504
13,185,000
(b)
PartnerRe
Finance
B
LLC
4.500
10/01/50
12,057,572
8,238,000
Provident
Financing
Trust
I
7.405
03/15/38
8,864,397
7,770,000
Prudential
Financial
Inc
6.500
03/15/54
8,104,864
2,890,000
(c)
Prudential
Financial
Inc
5.125
03/01/52
2,792,790
3,000,000
(c)
Prudential
Financial
Inc
6.000
09/01/52
3,046,368
7,370,000
Prudential
Financial
Inc
3.700
10/01/50
6,685,925
4,156,000
Prudential
Financial
Inc
5.375
05/15/45
4,130,321
3,900,000
(a),(e)
QBE
Insurance
Group
Ltd
5.875
N/A
3,885,861
34,725,000
QBE
Insurance
Group
Ltd,
Reg
S
6.750
12/02/44
34,775,837
11,975,000
(a),(b),(e)
SBL
Holdings
Inc
7.000
N/A
10,832,739
10,440,000
(a),(e)
SBL
Holdings
Inc
6.500
N/A
8,973,912
TOTAL
INSURANCE
361,799,951
MEDIA
&
ENTERTAINMENT
-
0.4%
(0.3%
of
Total
Investments)
7,694,000
(a),(e)
Farm
Credit
Bank
of
Texas
7.750
N/A
8,055,156
4,065,000
Paramount
Global
6.375
03/30/62
3,763,409
TOTAL
MEDIA
&
ENTERTAINMENT
11,818,565
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
-
0.4%
(0.3%
of
Total
Investments)
10,092,000
(e)
EUSHI
Finance
Inc
7.625
12/15/54
10,449,731
TOTAL
REAL
ESTATE
MANAGEMENT
&
DEVELOPMENT
10,449,731
TELECOMMUNICATION
SERVICES
-
1.1%
(0.7%
of
Total
Investments)
2,315,000
Vodafone
Group
PLC
4.125
06/04/81
2,081,806
24,020,000
(b)
Vodafone
Group
PLC
7.000
04/04/79
25,158,836
TOTAL
TELECOMMUNICATION
SERVICES
27,240,642
UTILITIES
-
7.6%
(4.7%
of
Total
Investments)
4,975,000
(b),(e)
AES
Andes
SA
8.150
06/10/55
5,081,146
5,020,000
(e)
AES
Andes
SA
6.350
10/07/79
4,988,368
5,916,000
AES
Corp/The
7.600
01/15/55
6,131,113
6,156,000
(e)
AltaGas
Ltd
7.200
10/15/54
6,171,316
10,915,000
(b)
American
Electric
Power
Co
Inc
3.875
02/15/62
10,297,016
1,285,000
CMS
Energy
Corp
4.750
06/01/50
1,235,957
16,200,000
CMS
Energy
Corp
3.750
12/01/50
14,182,013
6,029,000
Dominion
Energy
Inc
7.000
06/01/54
6,414,862
7,337,000
Duke
Energy
Corp
6.450
09/01/54
7,457,121
4,680,000
(a)
Edison
International
5.000
N/A
4,555,010
1,155,000
(a)
Edison
International
5.375
N/A
1,143,500
41,756,000
(b)
Emera
Inc
6.750
06/15/76
41,807,485
16,384,000
(b)
Entergy
Corp
7.125
12/01/54
16,750,657
13,706,000
NextEra
Energy
Capital
Holdings
Inc
6.750
06/15/54
14,352,019
Portfolio
of
Investments
October
31,
2024
(continued)
JPC
PRINCIPAL/
SHARES
DESCRIPTION
RATE
MATURITY
VALUE
UTILITIES
(continued)
$
4,658,000
PG&E
Corp
7.375
%
03/15/55
$
4,811,332
13,190,000
(a)
Sempra
4.875
N/A
13,079,121
8,976,000
Sempra
4.125
04/01/52
8,513,854
6,440,000
(c)
Southern
Co/The
4.000
01/15/51
6,304,212
7,365,000
(a),(e)
Vistra
Corp
8.875
N/A
7,861,254
1,745,000
(a),(e)
Vistra
Corp
7.000
N/A
1,759,740
12,725,000
(a),(e)
Vistra
Corp
8.000
N/A
13,070,598
TOTAL
UTILITIES
195,967,694
TOTAL
$1,000
PAR
(OR
SIMILAR)
INSTITUTIONAL
PREFERRED
(Cost
$2,200,190,413)
2,222,448,164
SHARES
DESCRIPTION
RATE
VALUE
369688357
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
-
14.3%
(8.9%
of
Total
Investments)
369688357
BANKS
-
2.7%
(1.7%
of
Total
Investments)
107,564
CoBank
ACB
6.200
10,675,716
304,913
Fifth
Third
Bancorp
9.296
7,830,166
825,668
KeyCorp
6
.125
21,013,251
659,461
KeyCorp
6.200
16,453,552
517,064
Regions
Financial
Corp
5.700
12,998,989
TOTAL
BANKS
68,971,674
CAPITAL
GOODS
-
0.2%
(0.1%
of
Total
Investments)
218,500
WESCO
International
Inc
10.625
5,681,000
TOTAL
CAPITAL
GOODS
5,681,000
EQUITY
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
-
0.2%
(0.1%
of
Total
Investments)
85,181
Prologis
Inc
8.540
4,984,255
TOTAL
EQUITY
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
4,984,255
FINANCIAL
SERVICES
-
4.3%
(2.7%
of
Total
Investments)
146,670
Capital
One
Financial
Corp
5.000
3,037,536
145,721
Equitable
Holdings
Inc
4.300
2,777,442
381,058
Equitable
Holdings
Inc
5.250
8,760,523
116,785
Morgan
Stanley
6.375
2,967,507
842,201
Morgan
Stanley
5.850
21,198,199
79,400
Morgan
Stanley
6.500
2,072,340
746,004
Morgan
Stanley
6.875
18,873,901
631,349
Morgan
Stanley
7.125
15,985,757
774,375
Morgan
Stanley
6.625
20,443,500
144,314
Synchrony
Financial
5.625
2,981,527
494,554
Voya
Financial
Inc
5.350
12,655,637
TOTAL
FINANCIAL
SERVICES
111,753,869
FOOD,
BEVERAGE
&
TOBACCO
-
1.6%
(1.0%
of
Total
Investments)
577,198
CHS
Inc
7.100
14,937,884
117,770
CHS
Inc
7.875
3,136,215
711,041
CHS
Inc
6.750
18,017,779
56,400
(b),(e)
Dairy
Farmers
of
America
Inc
7.875
5,350,069
TOTAL
FOOD,
BEVERAGE
&
TOBACCO
41,441,947
INSURANCE
-
4.5%
(2.8%
of
Total
Investments)
334,249
American
National
Group
Inc
6.625
8,486,582
753,900
American
National
Group
Inc
5.950
18,937,968
462,365
Aspen
Insurance
Holdings
Ltd
8.915
12,248,049
124,080
Aspen
Insurance
Holdings
Ltd
5.625
2,556,048
96,786
Assurant
Inc
5.250
2,174,781
621,947
Athene
Holding
Ltd
6.375
15,635,748
206,658
Athene
Holding
Ltd
7.750
5,536,368
876,205
Athene
Holding
Ltd
6.350
21,966,459
80,000
Axis
Capital
Holdings
Ltd
5.500
1,785,600
63,400
Delphi
Financial
Group
Inc
8.570
1,550,130
342,645
Enstar
Group
Ltd
7.000
7,329,177
219,645
Maiden
Holdings
North
America
Ltd
7.750
4,206,202
300,532
Reinsurance
Group
of
America
Inc
5.750
7,489,257
207,319
Reinsurance
Group
of
America
Inc
7.125
5,522,978
SHARES
DESCRIPTION
RATE
VALUE
INSURANCE
(continued)
88,536
Selective
Insurance
Group
Inc
4.600
%
$
1,735,306
TOTAL
INSURANCE
117,160,653
TELECOMMUNICATION
SERVICES
-
0.6%
(0.4%
of
Total
Investments)
20,680
AT&T
Inc
5.000
448,756
686,314
AT&T
Inc
4.750
14,138,068
TOTAL
TELECOMMUNICATION
SERVICES
14,586,824
UTILITIES
-
0.2%
(0.1%
of
Total
Investments)
204,489
NextEra
Energy
Capital
Holdings
Inc
5.650
5,108,135
TOTAL
UTILITIES
5,108,135
TOTAL
$25
PAR
(OR
SIMILAR)
RETAIL
PREFERRED
(Cost
$372,994,657)
369,688,357
SHARES
DESCRIPTION
VALUE
5,211
COMMON
STOCKS
-
0.0%
(0.0%
of
Total
Investments)
5,211
MATERIALS
-
0.0%
(0.0%
of
Total
Investments)
60
LyondellBasell
Industries
NV,
Class
A
5,211
TOTAL
MATERIALS
5,211
TOTAL
COMMON
STOCKS
(Cost
$0)
5,211
PRINCIPAL
DESCRIPTION
(f)
RATE
MATURITY
VALUE
1417606518
CONTINGENT
CAPITAL
SECURITIES
-
54.8%
(34.3%
of
Total
Investments)
1417606518
BANKS
-
45.7%
(28.7%
of
Total
Investments)
$
4,825,000
(a),(c),(e)
Australia
&
New
Zealand
Banking
Group
Ltd/United
Kingdom
6.750
N/A
4,889,216
20,615,000
(a)
Banco
Bilbao
Vizcaya
Argentaria
SA
6.500
N/A
20,619,453
34,227,000
(a)
Banco
Bilbao
Vizcaya
Argentaria
SA
9.375
N/A
37,059,900
17,520,000
(a)
Banco
Bilbao
Vizcaya
Argentaria
SA
6.125
N/A
16,909,102
5,440,000
(a),(b),(e)
Banco
Mercantil
del
Norte
SA/Grand
Cayman
7.500
N/A
5,350,253
3,120,000
(a),(b),(e)
Banco
Mercantil
del
Norte
SA/Grand
Cayman
7.625
N/A
3,095,803
35,600,000
(a)
Banco
Santander
SA
8.000
N/A
37,087,724
9,505,000
(a)
Banco
Santander
SA
4.750
N/A
9,005,143
44,600,000
(a)
Banco
Santander
SA
9.625
N/A
51,363,947
30,085,000
(a)
Barclays
PLC
8.000
N/A
31,096,097
14,778,000
(a)
Barclays
PLC
6.125
N/A
14,697,144
76,877,000
(a)
Barclays
PLC
9.625
N/A
84,593,836
33,437,000
(a),(c),(e)
BNP
Paribas
SA
8.500
N/A
34,912,355
10,656,000
(a),(b),(e)
BNP
Paribas
SA
7.375
N/A
10,752,096
38,609,000
(a),(e)
BNP
Paribas
SA
8.000
N/A
40,149,345
28,795,000
(a),(e)
BNP
Paribas
SA
9.250
N/A
31,055,782
47,851,000
(a),(c),(e)
BNP
Paribas
SA
7.750
N/A
49,556,170
7,595,000
(a),(e)
BNP
Paribas
SA
7.000
N/A
7,561,050
45,870,000
(a),(e)
Credit
Agricole
SA
8.125
N/A
47,055,739
37,831,000
(a),(e)
Credit
Agricole
SA
6.700
N/A
36,771,032
4,466,000
(a),(b)
Credit
Agricole
SA,
Reg
S
8.125
N/A
4,581,446
42,501,000
(a),(b)
HSBC
Holdings
PLC
6.950
N/A
42,323,090
20,269,000
(a)
HSBC
Holdings
PLC
6.875
N/A
20,354,900
39,405,000
(a)
HSBC
Holdings
PLC
8
.000
N/A
41,346,011
24,533,000
(a)
HSBC
Holdings
PLC
6.375
N/A
24,534,570
10,713,000
(a)
HSBC
Holdings
PLC
6.500
N/A
10,671,363
36,120,000
(a)
HSBC
Holdings
PLC
6.000
N/A
35,711,075
30,760,000
(a)
ING
Groep
NV
5.750
N/A
30,411,606
36,830,000
(a)
ING
Groep
NV
6.500
N/A
36,851,325
16,750,000
(a)
ING
Groep
NV,
Reg
S
7.500
N/A
17,150,325
32,590,000
(a),(e)
Intesa
Sanpaolo
SpA
7.700
N/A
32,544,281
21,165,000
(a)
Lloyds
Banking
Group
PLC
7.500
N/A
21,345,089
8,293,000
(a)
Lloyds
Banking
Group
PLC
6.750
N/A
7,952,312
44,473,000
(a)
Lloyds
Banking
Group
PLC
8.000
N/A
46,347,937
9,005,000
(a),(e)
Macquarie
Bank
Ltd/London
6.125
N/A
9,058,931
34,286,000
(a)
NatWest
Group
PLC
8.125
N/A
36,739,643
23,805,000
(a),(b)
NatWest
Group
PLC
8.000
N/A
24,106,014
Portfolio
of
Investments
October
31,
2024
(continued)
JPC
PRINCIPAL
DESCRIPTION
(f)
RATE
MATURITY
VALUE
BANKS
(continued)
$
24,664,000
(a)
NatWest
Group
PLC
6.000
%
N/A
$
24,614,756
12,501,000
(a),(e)
Nordea
Bank
Abp
6.625
N/A
12,563,633
17,000,000
(a),(e)
Nordea
Bank
Abp
6.300
N/A
16,253,814
40,236,000
(a),(e)
Societe
Generale
SA
8.000
N/A
40,771,461
33,667,000
(a),(e)
Societe
Generale
SA
10.000
N/A
35,873,333
8,430,000
(a),(e)
Societe
Generale
SA
8.500
N/A
8,431,268
14,545,000
(a),(e)
Societe
Generale
SA
9.375
N/A
15,212,034
3,046,000
(a),(e)
Standard
Chartered
PLC
6.000
N/A
3,040,048
7,585,000
(a),(e)
Standard
Chartered
PLC
7.750
N/A
7,801,408
TOTAL
BANKS
1,180,172,860
FINANCIAL
SERVICES
-
8.7%
(5.4%
of
Total
Investments)
9,200,000
(a)
Deutsche
Bank
AG,
Reg
S
4.789
N/A
8,967,010
24,200,000
(a)
Deutsche
Bank
AG
7.500
N/A
24,167,855
30,215,000
(a),(c)
Deutsche
Bank
AG
6.000
N/A
29,536,015
46,572,000
(a),(e)
UBS
Group
AG
9.250
N/A
53,920,736
13,310,000
(a),(e)
UBS
Group
AG
7.750
N/A
13,953,924
18,000,000
(a),(b),(e)
UBS
Group
AG
4.875
N/A
17,070,280
23,385,000
(a),(e)
UBS
Group
AG
9.250
N/A
25,482,377
13,675,000
(a)
UBS
Group
AG,
Reg
S
7.000
N/A
13,689,550
41,023,000
(a)
UBS
Group
AG,
Reg
S
6.875
N/A
41,094,380
TOTAL
FINANCIAL
SERVICES
227,882,127
INSURANCE
-
0.4%
(0.2%
of
Total
Investments)
9,243,000
(a)
Phoenix
Group
Holdings
PLC,
Reg
S
8.500
N/A
9,551,531
TOTAL
INSURANCE
9,551,531
TOTAL
CONTINGENT
CAPITAL
SECURITIES
(Cost
$1,384,577,336)
1,417,606,518
SHARES
DESCRIPTION
RATE
VALUE
21979096
CONVERTIBLE
PREFERRED
SECURITIES
-
0.8%
(0.5%
of
Total
Investments)
21979096
BANKS
-
0.8%
(0.5%
of
Total
Investments)
5,849
Bank
of
America
Corp
7.250
7,223,515
11,949
Wells
Fargo
&
Co
7.500
14,755,581
TOTAL
BANKS
21,979,096
TOTAL
CONVERTIBLE
PREFERRED
SECURITIES
(Cost
$24,885,225)
21,979,096
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
77898115
CORPORATE
BONDS
-
3.0%
(1.9%
of
Total
Investments)
77898115
BANKS
-
1.0%
(0.6%
of
Total
Investments)
24,100,000
(a),(c),(e)
Standard
Chartered
PLC
7.014
N/A
25,624,205
TOTAL
BANKS
25,624,205
ENERGY
-
0.1%
(0.0%
of
Total
Investments)
1,900,000
(c)
Enbridge
Inc
8.250
01/15/84
2,007,023
TOTAL
ENERGY
2,007,023
EQUITY
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
-
0.6%
(0.4%
of
Total
Investments)
16,100,000
(e)
Scentre
Group
Trust
2
5.125
09/24/80
15,782,402
TOTAL
EQUITY
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
15,782,402
FINANCIAL
SERVICES
-
0.7%
(0.5%
of
Total
Investments)
10,229,000
(g)
Credit
Suisse
Group
AG
7.250
03/12/72
1,201,907
9,090,000
(g)
Credit
Suisse
Group
AG
6.380
02/21/72
1,068,075
8,455,000
(g)
Credit
Suisse
Group
AG
7.500
01/17/72
993,462
18,750,000
(g)
Credit
Suisse
Group
AG
0.000
01/17/72
2,203,125
13,505,000
(g)
Credit
Suisse
Group
AG
7.500
06/11/72
1,586,838
12,800,000
(e)
Scentre
Group
Trust
2
4.750
09/24/80
12,666,714
TOTAL
FINANCIAL
SERVICES
19,720,121
Investments
in
Derivatives
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
INSURANCE
-
0.6%
(0.4%
of
Total
Investments)
$
2,670,000
(e)
Fidelis
Insurance
Holdings
Ltd
6.625
%
04/01/41
$
2,627,842
6,150,000
(b),(e)
Liberty
Mutual
Insurance
Co
7.697
10/15/97
7,127,152
5,000,000
QBE
Insurance
Group
Ltd,
Reg
S
5.875
06/17/46
5,009,370
TOTAL
INSURANCE
14,764,364
TOTAL
CORPORATE
BONDS
(Cost
$130,139,657)
77,898,115
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
5,074,526
U.S.
GOVERNMENT
AND
AGENCY
OBLIGATIONS
-
0.2%
(0.1%
of
Total
Investments)
5,074,526
4,883,000
CoBank
ACB
7.250
07/01/73
5,074,526
TOTAL
U.S.
GOVERNMENT
AND
AGENCY
OBLIGATIONS
(Cost
$4,883,000)
5,074,526
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$4,117,670,288)
4,114,699,987
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM
INVESTMENTS
-
0.8% (0.5%
of
Total
Investments)
20,058,564
REPURCHASE
AGREEMENTS
-
0.8%
(0.5%
of
Total
Investments)
20,058,564
20,058,564
(h)
Fixed
Income
Clearing
Corporation
1.520
11/01/24
20,058,564
TOTAL
REPURCHASE
AGREEMENTS
(Cost
$20,058,564)
20,058,564
TOTAL
SHORT-TERM
INVESTMENTS
(Cost
$20,058,564)
20,058,564
TOTAL
INVESTMENTS
-
159.7%
(Cost
$4,137,728,852
)
4,134,758,551
BORROWINGS
-
(26.6)%
(
i
),(j)
(689,000,000)
REVERSE
REPURCHASE
AGREEMENTS,
INCLUDING
ACCRUED
INTEREST
-
(18.2)%(k)
(
471,489,203)
TFP
SHARES,
NET
-
(16.2)%(l)
(418,504,422)
OTHER
ASSETS
&
LIABILITIES,
NET
- 1.3%
32,716,618
NET
ASSETS
APPLICABLE
TO
COMMON
SHARES
-
100%
$
2,588,481,544
Futures
Contracts
-
Long
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Value
Unrealized
Appreciation
(Depreciation)
U.S.
Treasury
10-Year
Note
1,747
12/24
$
199,759,064
$
192,988,906
$
(6,770,158)
U.S.
Treasury
Ultra
Bond
142
12/24
19,093,869
17,838,750
(1,255,119)
Total
$218,852,933
$210,827,656
$(8,025,277)
Interest
Rate
Swaps
-
OTC
Uncleared
Counterparty
Notional
Amount
Fund
Pay/Receive
Floating
Rate
Floating
Rate
Index
Fixed
Rate
(Annualized)
Fixed
Rate
Payment
Frequency
Effective
Date
(m)
Optional
Termination
Date
Maturity
Date
Value
Unrealized
Appreciation
(Depreciation)
Morgan
Stanley
Capital
Services,
LLC
$
798,500,000
Receive
1-Month
LIBOR
1.994%
Monthly
6/01/18
7/01/25
7/01/27
$
12,410,982
$
12,410,982
Morgan
Stanley
Capital
Services,
LLC
138,000,000
Receive
1-Month
LIBOR
2.364%
Monthly
7/01/19
7/01/26
7/01/28
3,503,723
3,503,723
Total
$
15,914,705
Portfolio
of
Investments
October
31,
2024
(continued)
JPC
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
$1,000
Par
(or
similar)
Institutional
Preferred
$
–
$
2,222,448,164
$
–
$
2,222,448,164
$25
Par
(or
similar)
Retail
Preferred
369,688,357
–
–
369,688,357
Common
Stocks
5,211
–
–
5,211
Contingent
Capital
Securities
–
1,417,606,518
–
1,417,606,518
Convertible
Preferred
Securities
21,979,096
–
–
21,979,096
Corporate
Bonds
–
70,844,708
7,053,407
77,898,115
U.S.
Government
and
Agency
Obligations
–
5,074,526
–
5,074,526
Short-Term
Investments:
Repurchase
Agreements
–
20,058,564
–
20,058,564
Investments
in
Derivatives:
Futures
Contracts*
(8,025,277)
–
–
(8,025,277)
Interest
Rate
Swaps*
–
15,914,705
–
15,914,705
Total
$
383,647,387
$
3,751,947,185
$
7,053,407
$
4,142,647,979
*
Represents
net
unrealized
appreciation
(depreciation).
For
Fund
portfolio
compliance
purposes,
the
Fund’s
industry
classifications
refer
to
any
one
or
more
of
the
industry
sub-classifications
used
by
one
or
more
widely
recognized
market
indexes
or
ratings
group
indexes,
and/or
as
defined
by
Fund
management.
This
definition
may
not
apply
for
purposes
of
this
report,
which
may
combine
industry
sub-classifications
into
sectors
for
reporting
ease.
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
(a)
Perpetual
security.
Maturity
date
is
not
applicable.
(b)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
reverse
repurchase
agreements.
As
of
the
end
of
the
reporting
period,
investments
with
a
value
of
$518,223,327
have
been
pledged
as
collateral
for
reverse
repurchase
agreements.
(c)
Investment,
or
portion
of
investment,
is
hypothecated.
The
total
value
of
investments
hypothecated
as
of
the
end
of
the
reporting
period
was
$402,229,645.
(d)
Variable
rate
security.
The
rate
shown
is
the
coupon
as
of
the
end
of
the
reporting
period.
(e)
Security
is
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
are
deemed
liquid
and
may
be
resold
in
transactions
exempt
from
registration,
which
are
normally
those
transactions
with
qualified
institutional
buyers.
As
of
the
end
of
the
reporting
period,
the
aggregate
value
of
these
securities
is
$941,774,636
or
22.8%
of
Total
Investments.
(f)
Contingent
Capital
Securities
(“
CoCos
”)
are
hybrid
securities
with
loss
absorption
characteristics
built
into
the
terms
of
the
security
for
the
benefit
of
the
issuer.
For
example,
the
terms
may
specify
an
automatic
write-down
of
principal
or
a
mandatory
conversion
into
the
issuer’s
common
stock
under
certain
adverse
circumstances,
such
as
the
issuer’s
capital
ratio
falling
below
a
specified
level.
(g)
For
fair
value
measurement
disclosure
purposes,
investment
classified
as
Level
3.
(h)
Agreement
with
Fixed
Income
Clearing
Corporation,
1.520%
dated
10/31/24
to
be
repurchased
at
$20,059,411
on
11/1/24,
collateralized
by
Government
Agency
Securities,
with
coupon
rate
4.000%
and
maturity
date
6/30/28,
valued
at
$20,459,902.
(
i
)
Borrowings
as
a
percentage
of
Total
Investments
is
16.7%.
(j)
The
Fund
may
pledge
up
to
100%
of
its
eligible
investments
(excluding
any
investments
separately
pledged
as
collateral
for
specific
investments
in
derivatives,
when
applicable)
in
the
Portfolio
of
Investments
as
collateral
for
borrowings.
As
of
the
end
of
the
reporting
period,
investments
with
a
value
of
$1,443,720,929
have
been
pledged
as
collateral
for
borrowings.
(k)
Reverse
Repurchase
Agreements,
including
accrued
interest
as
a
percentage
of
Total
investments
is
11.4%.
(l)
TFP
Shares,
Net
as
a
percentage
of
Total
Investments
is
10.1%.
(m)
Effective
date
represents
the
date
on
which
both
the
Fund
and
counterparty
commence
interest
payment
accruals
on
each
contract.
LIBOR
London
Inter-Bank
Offered
Rate
Reg
S
Regulation
S
allows
U.S.
companies
to
sell
securities
to
persons
or
entities
located
outside
of
the
United
States
without
registering
those
securities
with
the
Securities
and
Exchange
Commission.
Specifically,
Regulation
S
provides
a
safe
harbor
from
the
registration
requirements
of
the
Securities
Act
for
the
offers
and
sales
of
securities
by
both
foreign
and
domestic
issuers
that
are
made
outside
the
United
States.
TSFR
3M
CME
Term
Secured
Overnight
Financing
Rate
3
Month
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